BURKE — Two small, family-owned central South Dakota banks are looking to merge. First Fidelity Bank of Burke is seeking to acquire Dakota Prairie Bank. Dakota Prairie Bank began as Draper State Bank and was chartered in 1906. First Fidelity Bank was chartered in 1905 as Burke State Bank. Dakota Prairie Bank has branches in Draper, Fort Pierre, Presho and White River. Those branches will stay open if the merger is approved by regulators with employees expected to remain in place. First Fidelity has branches in Burke, Bonesteel, Colome, Gregory, Murdo, Platte and Winner. Dakota Prairie Bank President and C-E-O Steve Hayes says merging with First Fidelity feels like a natural fit as their history and philosophy of service is similar to what Dakota Prairie has established. The merger is still in the regulatory process. It must be approved by both the F-D-I-C and South Dakota Division of Banking. Approval is expected in the fourth quarter of 2023.
